Examlex
Fill in the correct labels for the following figure using the word bank below.
-C ___________
Accounts Payable Control
A system or method used to manage and track the money owed by the company to its creditors or suppliers.
Subsidiary Ledger
A detailed ledger that contains the details to support a main ledger account, such as accounts receivable or accounts payable.
Accounts Receivable Control
Practices and procedures in place to monitor and manage the amounts owed to a business by its customers for goods or services delivered on credit.
Subsidiary Ledger
A detailed ledger that contains supporting information for a main accounting ledger, often used for accounts receivable or accounts payable.
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